New York City-based Faith Hope Consolo, chairmen of the retail group at Douglas Elliman, tells GlobeSt.com that “location, location, location,” the old mantra, has given way to “experience, experience, experience.” Brick and mortar retailers have realized that they must be entertaining "places" to shop to attract customers, she explains.

“And online retailers have come to understand that they must add a physical component to broaden their audience base.” According to Consolo, “It's all about omnichannel retailing, knowing your shopper (by leveraging technology) and customer service.”

Look at a Bonobos or Warby Parker, etailers turned retailers, she says. “They understood that people are social animals who want to shop in groups and talk to each other as they do so. Meanwhile, the highest-end designers are offering their goods on line, understanding that the affluent are as time-pressed as everyone else. All are using the data they collect to better serve shoppers—sending targeted email and text messages, and even using the information to determine new store locations.”

[IMGCAP(3)]

The power of a personal relationship and service—from offering wine in boutiques to associates informing shoppers of sales early to the genius of the Genius Bar—she explains, are what keeps the customer coming back for more.

Greg Lyon, principal and retail design director at Nadel Architects, who recently told GlobeSt.com that he expects to see a far greater presence on the leasing floor of new ground up retail destinations under development than seen since the onset of the recession, says that his forecast is more positive then it has been since 2007.

[IMGCAP(4)]

Lyon also tells GlobeSt.com that “Retail destinations must remain current with the paradigm of the consumer. Post recession shoppers and guests, in addition to young adults are less into the conspicuous consumption of stuff, and more into acquiring experiences and purchasing the paraphernalia of their lifestyles. This explains the proliferation of new dining concepts, the growth of the tourism industry, and the explosion of the fitness culture and athletic wear brands as the new casual wardrobe.”

Faris Lee Investments' Robert Moore, senior managing director in the Las Vegas office, says that the entrepreneurial spirit is back, “and is expanded to all facets of deals, not just value-add. It seems investors, developers and retailers are all singing from the same page: it is time to take advantage of the opportunity.”

[IMGCAP(5)]

When chatting with Abraham Bergman, a founding partner at Eastern Union Funding, he noted that retailers, who have consolidated or thrived through the economic downturn, are expanding their footprint into new markets. “A good deal of that expansion is being fueled by the added revenue from the uptick in the economy,” he tells GlobeSt.com. “Additionally, the aggressive development of new 'In Line' Shopping centers that are replacing the old defunct enclosed shopping malls.”

Shari Tucker-Gasset, council chair of retail investments at Sperry Van Ness, tells GlobeSt.com that we should expect to see smaller restaurants going forward. “Gone are the days of the 5,000-square-foot to 6,000-square-foot restaurant.”

Hear more from more experts in the next few days as we cover the RECon event, with thoughts not only from attendees and panelists, but coverage of sessions, parties and more. Also keep a look out for the May issue of Real Estate Forum, where we dive into ways the retail continues to evolve.